Steel Price in the Market on September 7, 2026

Rebar: On September 7, the average price of 20mm Grade III seismic-resistant rebar in 31 major cities across China was 3,338 yuan/ton, remaining unchanged from the previous trading day. In the short term, current high costs and low supply still provide some support to the market, but demand recovery has fallen short of expectations, intensifying the supply-demand balance. Steel prices have shown mixed movements.

Hot-rolled coil: On September 7, the average price of 4.75mm hot-rolled coils in 24 major cities across China was 3,364 yuan/ton, down 7 yuan/ton from the previous trading day.  In terms of supply, recent raw material cost pressures have led to losses for most steel mills, with some gradually increasing maintenance schedules, resulting in a slight overall decline in supply.  Regarding demand, the market remains primarily driven by rigid demand, with actual downstream orders performing relatively modestly despite the anticipated peak season of "Golden September and Silver October." Most procurement activities continue to be demand-driven.

Cold-rolled coils: On September 7, the average price of 1.0mm cold-rolled coils in 24 major cities across the country was 3,823 yuan/ton, down 9 yuan/ton from the previous trading session. Black metal futures fluctuated downward, while spot market prices remained stable but showed a downward trend. Market trading sentiment was relatively subdued, with some traders engaging in minor hidden price reductions to expedite sales, resulting in an overall mediocre performance for the day. Spot resources were relatively abundant, yet transactions during the "golden September" period fell short of expectations.

Medium-thick plate: On September 7, the average price of 20mm ordinary plate in 24 major cities across China was 3,582 yuan per ton, down 2 yuan per ton from the previous trading day. Currently, steel mills are operating smoothly overall with strong price support intentions. High-value-added plates such as ship plates and wind power plates have full production schedules, while steel billets and coke provide cost support. Social inventories have seen slight reductions, and traders are mostly adopting low-inventory, rapid-in-and-out operations. Spot transactions are generally average, with end-users primarily purchasing in small batches as needed. Demand in shipbuilding and offshore wind power remains resilient, but traditional downstream sectors such as steel structures, construction machinery, and infrastructure have yet to fully realize the peak season effect of September. The market is in a state between peak season expectations and weak actual demand.